SERAP takes NNPCL to court over unaccounted oil revenue
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) for allegedly failing to account for billions in oil revenue. The legal action comes after the Auditor-General of the Federation’s 2022 audited report, published on September 9, 2025, highlighted multiple instances of missing funds and irregular transactions. SERAP claims the missing money has negatively impacted ordinary Nigerians and calls for greater transparency. The group is asking the court to compel NNPCL to disclose details about the alleged missing or diverted funds.
TLDR
- SERAP is suing NNPCL over unaccounted N22.3bn, $49.7m, £14.3m, and €5.2m in oil revenue.
- The lawsuit follows findings in the Auditor-General’s 2022 report, published on September 9, 2025.
- SERAP seeks a court order for NNPCL to explain or recover the missing funds and disclose transaction details.
- The group argues that the missing funds have worsened poverty and undermined Nigeria’s economic development.
- SERAP believes addressing these issues would restore public trust and reduce corruption in the oil sector.
